EUSTACE, Texas, Sept. 4, 2013 /PRNewswire/ -- Paradigm Oil
and Gas, Inc. (OTC PINK: PDGO) ("Paradigm") today announced that it
has been preparing a full-scale oil and gas "Production Blitz,"
mobilizing all available personnel and resources in response to
recent Middle East volatility and
potential new shortages.
Paradigm Oil and Gas has spent the last 60 days conducting a
comprehensive evaluation of its leases, wells, and support assets
in Texas, Louisiana and Oklahoma as part of a strategic initiative to
quickly and significantly increase oil and gas production in
response to growing demand and the threat of further disruption to
global production.
As of today's briefing, Paradigm Oil and Gas held 23 leases in
the three states, totaling nearly 200 wells on several thousand
acres. "These properties all have similar qualities in that
they are ready and available for production, have equipment or
assets on ground, and have historical information pertaining to
production capabilities. A selection criteria that has guided
our ongoing strategy in targeting and acquiring lucrative
properties," stated Vince
Vellardita, President and CEO of Paradigm Oil and Gas.
Vellardita added, "We have set one goal for theses leases, get them
online and producing!"
In response to this mandate, leadership has assembled quick
response teams and is deploying them to cover multiple lease sites
starting this week. The company is committed to having as
many as three wells online from different leases, producing and
generating solid revenue in the next ten days. Within the
scope of the acquired leases, there are some wells that will need
down-hole work and restoration, however a significant portion
require minor repair and basic equipment to be fully operational
(pumps, production lines, etc.) or require very minimal service to
achieve a basic level of production.
In light of continued and recent instability in the Middle East and an anticipated disruption in
Syria, the Company is confident
that oil should remain above $100 per
barrel for a substantial amount of time. The overall
objective of what Paradigm Oil and Gas calls its "Production
Blitz," is to immediately begin capitalizing on global market
shortages by consistently bringing wells on-line, producing, and
shipping oil to market during this time of premium valuation.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas Inc. (OTC Pink: PDGO) is a dynamic company in
business to provide service work to the oil and gas marketplace and
to produce oil. Paradigm's goal is to identify oil producing wells
and use modern technology to make them profitable based on modern
commodity pricing. Paradigm Oil & Gas has several proven oil
production leases and options for many more, holds the rights to
the Centurion Technology, and owns rigs that target shallow
stripper wells. For more information about Paradigm Oil and Gas,
visit www.paradigmpdgo.com. If you wish to be added to
Paradigm's mailing list, please email: vince@paradigmpdgo.com
Forward Looking Statements
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks.
Paradigm Oil and Gas, Inc., is a company with limited experience in
the oil and gas industry. At the time of this release Paradigm Oil
and Gas, Inc. lacks the financial capabilities to meet its
financial obligations and its management expects to dilute the
Company's shares to raise the necessary operating capital. Based
upon industry standards Paradigm would be considered highly
speculative and lacks any competitive advantage over its
competition. Additional risks you should consider are that this
list is limited and additional risks not mentioned may apply:
failure to meet Paradigm's financial and contractual obligations,
Paradigm's managerial errors made based upon the Company's limited
experience and knowledge of the industry, commodity risk, acts of
God and regulatory risk. You should consider these factors in
evaluating the forward-looking statements included herein, and not
place undue reliance on such statements.
Contact:
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
vince@paradigmpdgo.com
1-727-595-8101
SOURCE Paradigm Oil and Gas, Inc.
